Fort Walton Beach Council agenda — 11-12-08 special agenda - DRC cure — reading text

the State of Florida, Okaloosa County, Florida (" City")and FT. WALTON DEVELOPMENT PARTNERS LLC, a Florida limited liability company (" Developer"). The parties acknowledge and agree that this memorandum is a general statement of intent and shall not bind either party until formalized through the acceptance of the City Council and the execution of subsequent written agreements such as a development order, lease, contract for purchase, condominium documents, and other written agreements between the parties that may be necessary. 1. Developer owns certain real property located within the City of Fort Watton Beach, Florida, as more particularly described in Exhibit " A, Ii attached and incorporated in this agreement by reference ( the "Developer Property"). 2. Developer desires to construct a mixed use project on the Developer Property, to be known as " Landmark Center" (the " Project"), which will contain retail, restaurant, office and residential uses. 3. The City owns certain real property adjacent to the Developer Property, as more particularly described in Exhibit " B," attached and incorporated in this agreement by reference, ( the " City Surface Parking"), that is presently utilized for public surface parking. 4. The City and Developer recognize that it is in their respective and joint best interests to coordinate efforts to maximize the parking available to the Project and tha City, pursuant to the general terms outlined in this agreement and all subsequent written documents and agreements fonnalized by the parties. 5. The Developer has submitted a site plan for the Project, which includes the design and engineering for the 343 space parking garage, for review and approval by the City. The City shall have full approval authority of the project and the parking garage pursuant to the provisions of the City Code of Ordinances and the Land Development Code. This memorandum is a material part of that site plan review and shall be incorporated by referenc.e. a. The parties acknowledge that Developer is required to have thirty- eight ( 38) parking spaces for the residential component of the Project. Memorandum of Agreement 08106107 1  b. The parties acknowledge that Developer is voluntarily building an additional one hundred sixty two parking spaces for the commercial uses included in the Project. c. The parties acknowledge that the City currently has one hundred nineteen ( 119) parking spaces on the parcel described in Exhibit B. 6. Therefore, the City and Developer intend to be bound to the following conditions of development of a multi- level parking garage in conjunction with approval of the project: a. The City shall lease to Developer the surface parking area as shown on the CRA Site Plan developed by DAG dated 4/ 13/ 07 for a period of no more than eighteen months to begin prior to issuance of a building permit unless extended by mutual agreement. level b. During the lease period, Developer shall build a multi...parking garage that will contain at least three hundred and forty three ( 343) parking spaces. c.Upon completion of construction, the City shall accept and purchase from Developer the permanent improvement of the entire garage to include the portion of Developer' s land upon which the garage is constructed. d. The total purchase price shall be $ 3, 660, 000 which shall include a construction management fee. e.Upon completion of construction, prior to the consummation of the purchase by the city, and prior to the issuance of a certificate of occupancy for the parking garage, the Developer shall submit at its cost the parking garage to the condominium form of ownership with the assistance of an attorney licensed in the State of Florida and in a form approved by the City Attorney. f. Through the condominium arrangement and a maintenance agreement, Developer and its ' successors and assigns shall be required to maintain the entire parking garage facility. g. condominium arrangement, Developer and its Through the successors and assigns, shall retain the exclusive use and possession of thirty- eight ( 38) parking spaces. h. Through the condominium arrangement, Developer and its successors and assigns, shall retain the right to designate one hundred and sixty two ( 162) parking spaces for use of the public and the Project patrons, customers, and visitors. The parties acknowledge that, at some time in the future, the i. increase in the CRA tax incremental fund (TIF) as a direct result of the Project use and may be adequate consideration for the Developer's exclusive of the additional one possession of thirty eight ( 38) spaces and for the lease hundred sixty two ( 162) spaces. or a combination thereof. The parties shall execute a lease that will set forth the value and all terms of the agreement Developers use of the 162 spaces. Memorandum of Agreement 08106107 2  j. Through the condominium arrangement, the City shall have the exclusive right to public use of and lease of one hundred forty three ( 143) parking spaces. k. Through the condominium arrangement, the City shall have the exclusive right to charge for parking, at its discretion, for three hundred and five 305) spaces. All parking spaces within the garage are for public use except the 38 spaces reserved for the 38 residential units. . I. Through the condominium arrangement, Developer and its successors and assignees shall grant an easement to the City that will provide pedestrian access from the third level of the parking garage in the event that a pedestrian bridge is built from the Garage to the southern side of US Highway 98. m. Through the condominium arrangement, there shall be a Board composed of one member of the City Council, the City Manager, and one department director designated by the City Manager, and two members from the Developer and its successors and assigns, who shall all hold proportional votes relative to the numbers of parking spaces owned by the City, which will be 305, and the Developer, which will be 38. 7. The development order shall require the Developer to obtain all necessary easements, in a form approved by the City Attorney, required for the entire Project and the parking garage. 8. At times required by the City, the Developer agrees to procure the types and amounts of insurance and performance and completion bonds necessary to secure the obligations and intent of the parties throughout the construction of the parking garage. 9. parties hereby acknowledge that this Memorandum of Agreement The does not create and shall not be construed at any time to create a partnership, joint venture, tenancy- in-common, joint tenancy, or agency relationship for the purpose of developing the parking garage, nor pledge the credit of the City in any manner. Memorandum of Agreement 08I06I07 3 EXECUTION CITY OF FORT WALTON BEACH, FLORIDA ATTEST: By: By: Helen Spencer, City Clerk Mike Anderson, Mayor Drafted by: Toni L. Craig, City Attorney Fla. Bar No. 115444 244 Racetrack Rd NE Fort Walton Beach FL 32547 850) 243-6969 Fax: (850) 244-8929 Memorandwn of Agreement 08I06f07 4  FT. WALTON DEVELOPMENT PARTNERS LLC, a Florida limited liability company By: Name: Title: Manager STATE OF GEORGIA COUNTY OF FULTON The foregoing instrument was acknowledged before me this _ day of t by 2007, Manager of FT. as WALTON DEVELOPMENT PARTNERS LLC, who is personally known to me, or has produced as identification. SIGNATURE OF PERSON TAKING ACKNOWLEDGEMENT PRINT NAME OF ACKNOWLEDGER: TITLE: COMMISSION NUMBER: COMMISSION EXPIRES: Memorandum of Agreement 08/ 06107 5  ATIACBMENTB CITY OF FORT WALTON BEACH DEVELOPMENT CRA SITE PLAN APPROVAL e ORDER... CRA CASE # 07-D2- SP THE LANDMARK CENTER . The Board of Commissioners of the Community Redevelopment Agency (CRA) at it$ regular meeting held on July 11, 2007 conSidered the application of Ft.Walton Development Partners LLC, OWner and Authorized Agent for the Landmark Center subject.to this Order. The applicant requested site plan approval for the Landmark Center consisting of a mix of uses including 18,916 sq. ft. of retail and 11, 771 project sq. ft. of restaurants on the first floor. A combination of 19, 032 sq. ft. of office space and 10,. 870 sq. ft. of residential space is proposed on the second floor. The third floor consists of 32,007 sq. ft. of residential space with a maximum of 38 units. The total commercial square footage is 49,719 with ~8 r~ idential units on a parcel located at 223' Miracle Strip Parkway SE and 206 Perry Avenue SEt Fort Walton Be. ch, Florida, and identified as Okaloosa County ParcellD 2 24- #4- 2$- 0300-000A- 28-24- 0070. 24- 0300- 006B, 24- 2S- 24- OOOA- 001A and 24-2S-24-0300. 000A-001 B. 000A.. 03QO... The CRA Board considered the application, testimony and exhibits presented by the applicant, the report of the City Staff and aU other relevant testimony, exhibits and other evidence, pursuantto Section 12.45, Land Development Code, and recommended that City Council approve the site plan with conditions. The City Council at its special meeting he' d on August 10, 2007 considered the recommendation of the CRA Board, the application, testimony and exhibits presented by the applicant, the report of the City Staff and an other relevant testimony, exhibits and other evidence, pursuant to Chapter 12.45, Land Development Code and finds and orders the following: Findings of Fact: 1} The property is currently zoned MUMS, and the proposed mixed use project is pennitted. The development is also consistent with the Comprehensive Plan